9/20/2013 – The Long, Sorry Tale of Pension Promises (Wall Street Journal)

Fifty years ago, the auto industry suffered a massive pension bust. The numbers back then were small, but pension failures are never about the numbers—they’re about human frailty. People are tempted to promise more than they can deliver. Today, cities and states across the country are way behind on the promises they made to their employees. Several—including Detroit—are in bankruptcy.

Read the full article at the Wall Street Journal.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.